HC Deb 24 July 1923 vol 167 cc253-4W

asked the Minister of Health whether, in case any society or company, as provided for in Section 3 of the Housing Bill now before Parliament, shall secure from the Public Works Loan Board a loan not exceeding 75 per cent. of the total value for the erection of houses as provided in the Bill, such society or company, to enable them to raise the remaining 25 per cent., will be allowed to capitalise the Government subsidy of £6 per house; whether the Government will arrange accordingly; and, failing that, will such society or company be allowed to make private arrangements for such capitalisation if found possible?


The normal limit for loans by the Public Works Loan Board is 662/3 per cent. of the value of the property, but the Board may advance up to 75 per cent. on the provision of such further security as they may think fit. The Housing Bill does not provide for the payment of any capitalised security by the Government. If assistance in this form is desired, application must be made to the appropriate local authority under Clause 2, whose proposals would be considered by the Ministry with all relevant circumstances.